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IFC to assist SMEs with loan to Vilniaus Bankas

Jul 08, 1999
Paul Beckman

VILNIUS - On June 30 Lithuania's largest private bank, Vilniaus Bankas, received a $20-million loan from International Finance Corp. of World Bank group.In a joint announcement, bankers said the loan, with a final maturity of seven years and yearly interest rate of LIBOR +2.25 percent, will help folk with smaller businesses and help to finance mortgages for residential housing.In Lithuania, medium-term funding has not been easy for smaller businesses to grab on to. Julius Niedvaras, however, ...

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